Farmley Raises $6.7 Mn in Pre-Series B Funding Led by BC Jindal Group

Chandigarh, 19 December 2023: Healthy snacking brand Farmley has raised $6.7 Mn in a Pre-Series B round of funding led by BC Jindal Group with participation from existing investors DSG Consumer Partners, Omnivore and Alkemi Partners.

Founded in 2017, the company has achieved remarkable growth, crossing the 300 Cr ARR milestone growing by over 400% over the last 2 years. Driven by customer love for hero products, Farmley has also turned EBITDA positive. The new round will help Farmley deepen its presence across the offline retail touchpoints and intensify brand-building efforts.

Commenting on the investment, Akash Sharma, Co-founder, Farmley said, “This new round of investment brings us a step closer to our mission of becoming a household brand and contributing to a healthier world. These funds will play a pivotal role in fuelling our product innovation efforts, in diversifying distribution channels and in amplifying the brand building efforts. We would like to make people’s snacking experiences more wholesome by operating on consumer first principles.”

Abhishek Agarwal, Co-founder, Farmley said, “With the increasing awareness about health and wellness, consumers are looking for options that not only taste good but also provide nutritional value. This fresh infusion of funds will allow us to take our brand to new heights and reach a wider audience of snack enthusiasts. Leveraging our deep sourcing advantage, an in-house product development unit, a robust product-market fit playbook, and an expanding omnichannel distribution network, we are in the right place at the right time”.

The brand recently welcomed former Indian Cricket Captain Rahul Dravid as its brand ambassador further solidifying its dedication to delivering exceptional products that delight customers' taste buds while keeping the nutritious wellbeing in mind.

BC Jindal Group representative said Farmley is re-imagining India’s snacking habit with a focus on health and wellness through development of healthy snacking segment. We believe Farmley will emerge as India’s leading healthy snacking and dry fruit company through its innovative product positioning and go to market strategy in this post pandemic world where awareness towards healthy snacking is on rise. Farmley brand will become synonym of healthy snacking in the coming years.

Investment in Farmley is in line with B.C. Jindal Group’s investment arm ethos of believing and backing Indian entrepreneurs who can build home grown international brands.

Hariharan Premkumar from DSG Consumer Partners said, “Farmley’s vision is consistent with DSGCP’s long term thesis on building a portfolio of brands in the healthy snacking category. Past investments include Epigamia, Raw Pressery, Pip & Nut, and Saraf Foods. We believe dry fruits, nuts,

and their derivatives will benefit from this growing preference for healthy snacks. As in western markets, we expect India to see a massive demand for dry fruits and nuts in multiple formats like on- the-go sachets, snack bars, breakfast bars, bliss balls, and nut butter cups infused with nuts and dried fruits. The founders have built a stellar team with a strong culture of experimentation, phenomenal speed of execution, and laser-sharp focus on customer pain points. Farmley is well positioned to become the largest healthy snacking brand in the country.”

Alka Goel from Alkemi Growth Capital said, “Farmley is emerging at the forefront when it comes to offering wholesome and innovative snacking options to consumers. Consumers love their products and various options that they provide around healthy snacking. We at Alkemi are inspired by the Farmley team’s aspiration to become the most loved healthy snacking brand. Their journey so far has been phenomenal and we cannot wait for the world to try their products.”

Farmley is committed to making snacking more wholesome for the consumers by curating products that are indulgent as well as nutritious. The brand offers a wide variety of 100+ products, ranging from everyday dry-fruit essentials, trail mixes, and healthy snacking options to more innovative offerings like a 100% natural dessert range derived from dry fruits & extruded munchies made from makhana flour.